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Voice Biometrics Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44545
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The voice biometrics market share should rise by USD 2.02 billion from 2021 to 2025 at a CAGR of 18.81%.

This voice biometrics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (BFSI, government, telecommunications, healthcare, and others) and geography (North America, APAC, Europe, South America, and MEA). The voice biometrics market report also offers information on several market vendors, including Auraya Systems Pty. Ltd., LumenVox LLC, M2SYS Technology, NICE Ltd., Nuance Communications Inc., OneVault Pty. Ltd., Speech Technology Center Ltd., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., and VoiceIt Technologies LLC among others.

What will the Voice Biometrics Market Size be in 2021?

Voice Biometrics Market Size

To Unlock the Voice Biometrics Market Size for 2021 and Other Important Statistics, Download the Free Report Sample!

Voice Biometrics Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rising prominence of voice biometrics in the BFSI sector is notably driving the voice biometrics market growth, although factors such as lack of accuracy may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the voice biometrics industry. The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.

This voice biometrics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Voice Biometrics Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Auraya Systems Pty. Ltd.
  • LumenVox LLC
  • M2SYS Technology
  • NICE Ltd.
  • Nuance Communications Inc.
  • OneVault Pty. Ltd.
  • Speech Technology Center Ltd.
  • Uniphore Software Systems Pvt. Ltd.
  • Verint Systems Inc.
  • VoiceIt Technologies LLC

 

The vendor landscape of the voice biometrics market entails successful business strategies deployed by the vendors. The voice biometrics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the voice biometrics market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Voice Biometrics Market?

Voice Biometrics Market Market segmentation by region

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35% of the market's growth will originate from North America during the forecast period. The US is the key market for voice biometrics in North America. 

The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The increased adoption in the healthcare sector will facilitate the voice biometrics market growth in North America over the forecast period. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

What are the Revenue-generating End-user Segments in the Voice Biometrics Market?

Voice Biometrics Market Segmentation

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The voice biometrics market share growth by the BFSI segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

This report provides an accurate prediction of the contribution of all the segments to the growth of the voice biometrics market size. Furthermore, our analysts have indicated actionable market insights on post COVID-19 impact on each segment, which is crucial to predict change in consumer demand.

Voice Biometrics Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 18.81%

Market growth 2021-2025

$ 2.02 billion

Market structure

Fragmented

YoY growth (%)

18.50

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, China, Japan, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Auraya Systems Pty. Ltd., LumenVox LLC, M2SYS Technology, NICE Ltd., Nuance Communications Inc., OneVault Pty. Ltd., Speech Technology Center Ltd., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., and VoiceIt Technologies LLC

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Voice Biometrics Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive voice biometrics market growth during the next five years
  • Precise estimation of the voice biometrics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the voice biometrics market across North America, APAC, Europe, South America, and MEA 
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of voice biometrics market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • BFSI - Market size and forecast 2020-2025
  • Government - Market size and forecast 2020-2025
  • Telecommunications - Market size and forecast 2020-2025
  • Healthcare - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Auraya Systems Pty. Ltd.
  • LumenVox LLC
  • M2SYS Technology
  • NICE Ltd.
  • Nuance Communications Inc.
  • OneVault Pty. Ltd.
  • Speech Technology Center Ltd.
  • Uniphore Software Systems Pvt. Ltd.
  • Verint Systems Inc.
  • VoiceIt Technologies LLC

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Voice Recognition Biometrics market growth will increase by $2605.01 million during 2019-2024.
The voice recognition biometrics market is expected to grow at a CAGR of 18.74% during 2019-2024.
Technavio has segmented the voice recognition biometrics market by end user (BFSI, Government, Telecommunications, Healthcare, and Others) and geographic (North America, APAC, Europe, South America, and MEA).
Auraya Systems Pty. Ltd., Cantab Research Ltd., LumenVox LLC, M2SYS Technology, NICE Ltd., Nuance Communications Inc., OneVault Pty. Ltd., Speech Technology Center Ltd., Uniphore Software Systems Pvt. Ltd., Verint Systems Inc., VoiceIt Technologies LLC are a few of the key vendors in the voice recognition biometrics market.
APAC will register the highest growth rate of 32.46% among the other regions. Therefore, the voice recognition biometrics market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the voice recognition biometrics market growth are:
  • Rising prominence of voice recognition biometrics in BFSI sector
The voice recognition biometrics market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Five-force market analysis

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